Identical Three Crows signals intense selling pressure.
The pattern is more bearish than the Three Black Crows.
- Bearish reversal pattern
- Follows an uptrend
- Pattern composed of three consecutive long red bodies
- Each candle opens at or near the previous close
- The candles close at or near their lows
- Each candle closes lower than the previous one
- Be careful, because the market may be overextended to the downside due to heavy selling
Below is a chart example of the pattern with the EUR/USD 1 hour chart.
The Identical Three Crows pattern appears at a previous resistance point (Bearish Engulfing).